Poa Sba

Topics: 1979, 1970, 1975 Pages: 29 (3130 words) Published: January 23, 2013
Principles of Accounts S.B.A.

Student Name:


Centre Number:

Candidate Number:



Form: 5A

Table of Contents

Accounting Cycle 1

Table of Contents2
1} Transactions6
2} Source Documents9
Journals: 3} Purchases & Sales Journal13
4} Return Inwards & Return Outwards Journal15
5} The Journal17
6} Cash Book19
Ledgers: 7} Purchases & Sales Ledger21
8} General Ledger22
9} Trial Balance23
10} Trading, Profit & Loss25
11} Balance Sheet27

Accounting Cycle 229

12} Trading, Profit & Loss30
13} Balance Sheet32
14} Statement of Performance34
15} Ratios, Interpretation, Analysis & Comparison35
16} Suggestions/Recommendations43
17} Conclusion45
18} Bibliography47


This Principle of Accounts S.B.A. will allow me to achieve many general goals in life and I aim to get a better understanding of accounting. This would increase my understanding with the accounting procedures used to manage a business. For the business, my two main aims would be: * To guide and assist this business to be financially controlled. * To increase on my understanding of accounting principles, techniques and procedures.


In completing this S.B.A, I would firstly like to thank the Almighty God for blessing me and giving me the ability to complete this project. Secondly, I’d like to thank my parents, both Mom and Dad, for providing me with all that was needed and my P.O.A. teacher, Mrs. Deosaran–Pulchan, for guiding me throughout this whole project.


In this project, the simulated Sole trading business of Marcus Lopez was accounted for during the periods of September 2011 and September 2012. M. Lopez had a clothing store where he was the manager of the business. The business is located at #347 Main Road, Couva and was known as Lopez Authentic Brands where there were clothes available for both genders. This project is about doing the book-keeping for the business where I would be going through the Accounting Cycles and then analysing and interpreting using ratios. In Accounting Cycle 1, I would prepare the Source Documents, Books of Original entry, Ledgers, Trial Balance and then the final accounts; Trading, Profit & Loss to find out the profit and Balance Sheet to find out the business’ worth. Next in Accounting Cycle 2, I would prepare the final accounts of period 2 and then analyse and interpret using ratios for the two periods. * The diagram below shows the Accounting Cycle.

4) Trial Balance
6) Balance Sheet
5) Trading, Profit & Loss
3) Ledgers
2) Book of Original entry
1) Source Documents

1} Transactions

Transactions for the month of September, 2011

Transactions during the month:

Date: 1) Started business with a capital of $4,000 in cash and $10,000 in the bank

3) Purchased stock on credit worth $1,000 from A. Mortan

4) Paid A. Mortan by cash $980, 2% discount

6) Sold stock worth $2,000 for credit to A. New

8) Bought Sewing Machine $1,500 on credit from Albert’s Sewing Machinery

9) Purchased stock worth $500 in cash

10) Cash Sales $600

11) A. New returned stock to us worth $200

13) Paid electricity bill $350 by cheque

14) Credit purchases of $1,000 from A. Mortan

16) Cash Sales of $500

17) Took $1,000 from cash till to place in bank a/c

19) Paid A. New $1,746 by cheque, 3% discount

20) Paid water rates $306 by cheque

22) Drawings of $400 cash

23) Carriage bill of $200 paid in cash for purchases of $500 worth of stock, paid by cheque

25) Returned faulty goods worth $200 to A. Mortan

27) Credit Sales of $1,600 to A. New

28) Took a loan of $1,000 from...
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